No change to the decision to reduce tariffs in the transportation system Gassled

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Minister of Petroleum and Energy, Tord Lien, upholds the decision to reduce tariffs in the gas transportation system Gassled. The decision, which entered into force 26 June this year, only affects gas transported after 1 October 2016. Tariffs for current transport agreements remain unchanged. Tariffs are reduced only for those parts of the Gassled system that have reached their predicted return.

– Sound resource management means that the profit from oil and gas resources must be extracted on the fields, not in the infrastructure. Tariffs in the infrastructure are reduced when the predicted return has been achieved. This predictability for investors is important for the authorities, says Minister of Petroleum and Energy Tord Lien.

– Lower tariffs will promote exploration, development and production of oil and gas, strengthen the competitiveness of Norwegian gas and provide for sound transportation solutions, says Minister of Petroleum and Energy Tord Lien.

Transport agreements have been signed for large parts of Gassled’s capacity for many years to come, which means that the income to the owners to a limited degree will be affected by the decision.